USD JPY Weekly Outlook and Forecast

March 6th, 2010 – The USD JPY made a strong bullish run and closed at 90.25. The unemployment rate stayed the same at 9.7% and the NFP had a better outcome then expected. On the upside, the USD JPY must stay above 89.46 resistance to keep it’s neutral/bullish momentum going to target the 91.26 resistance line. On the downside, if the USD JPY breaks the 88.12 resistance line, then it would into a bearish bias and target the 87.35 resistance line.